Note 8 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	For years ended December 31,
(In thousands)	201 8			201 7			201 6
Current income tax expense
Federal	$	11,567		$	12,622		$	14,270
State		732			546			698
Total current income tax expense		12,299			13,168			14,968
Deferred income tax expense (benefit)
Federal		(52	)		3,783			192
State		(44	)		(4	)		36
Total deferred income tax expense (benefit)		(96	)		3,779			228
Change in valuation allowance		(172	)		192			48
Total income tax expense	$	12,031		$	17,139		$	15,244

Schedule of Income Tax Expense Benefit, Recorded Directly to Stockholders Equity [Table Text Block]

	For years ended December 31,
(In thousands)	201 8			201 7			201 6
Unrealized (loss) gain on securities available for sale	$	(812	)	$	(531	)	$	(1,171	)
Reclassification adjustment for securities losses realized in income		–			81			–
Reclassification adjustment for securities impairment realized in income		–			–			–
Unrealized (loss) gain on derivatives		46			112			24
Minimum pension liability adjustment		46			(9	)		1
Compensation expense for tax purposes in excess of amounts recognized for financial reporting purposes		–			–			(1,705	)
Total income tax (benefit) expense recorded directly to stockholders’ equity	$	(720	)	$	(347	)	$	(2,851	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	For years ended December 31,
	201 8			201 7			201 6
U.S. federal income tax rate		21.0	%		35.0	%		35.0	%
Tax credits		(1.8	)		(14.4	)		(9.7	)
Stock based compensation		(0.8	)		(2.6	)		–
Net deferred tax asset remeasurement		(0.5	)		10.8			–
Other, net		(0.5	)		0.9			0.3
Cash surrender value of life insurance		(0.4	)		(1.5	)		(0.9	)
Tax exempt interest income		(0.4	)		(1.2	)		(1.2	)
Amortization/impairment of investments in tax credit partnerships		0.4			3.4			2.8
State income taxes		0.8			0.7			0.8
Effective income tax rate		17.8	%		31.1	%		27.1	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	December 31,
(In thousands)	201 8			201 7
Deferred tax assets
Allowance for loan and lease loss	$	5,567		$	5,422
Deferred compensation		4,703			4,148
Accrued expenses		968			798
Securities		756			121
Investments in tax credit partnerships		543			565
Loans		434			442
Other assets		181			186
Write-downs and costs associated with OREO		7			39
Total deferred tax assets		13,159			11,721
Deferred tax liabilities
Property and equipment		1,154			764
Loan costs		632			588
Leases		336			149
Other liabilities		267			260
Core deposit intangible		230			267
Mortgage servicing rights		193			161
Total deferred tax liabilities		2,812			2,189
Valuation allowance		(154	)		(326	)
Net deferred tax asset	$	10,193		$	9,206

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

(In thousands)	201 8			201 7
Balance as of January 1	$	40		$	40
Increases - current year tax positions		–			11
Increases - prior year tax positions		–			–
Settlements		–			–
Lapse of statute of limitations		(11	)		(11	)
Balance as of December 31	$	29		$	40